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The Saban Corporation is trying to decide whether to switch to a bank that will accommodate 1 answer below » The Saban Corporation is trying to decide whether to switch to a bank that will accommodate electronic funds transfers from Saban’s customers. Saban’s financial manager believes the new system would decrease its collection float by as much as five days. The new bank would require a compensating balance of $30,000, whereas its present bank has no compensating balance requirement. Saban’s average daily collections are $10,000, and it can earn 8% on its short-term investments. Should Saban make the switch? ( View complete question » The Saban Corporation is trying to decide whether to switch to a bank that will accommodate electronic funds transfers from Saban’s customers. Saban’s financial manager believes the new system would decrease its collection float by as much as five days. The new bank would require a compensating balance of $30,000, whereas its present bank has no compensating balance requirement. Saban’s average daily collections are $10,000, and it can earn 8% on its short-term investments. Should Saban make the switch? (Assume the compensating balance at the new bank will be deposited in a non-interest-earning account.) View less » Sep 17 2015 01:58 PM
